The Financial and Monetary Crimes Fee (EFCC) on Thursday arraigned BFI Group Company and 6 people earlier than the FCT Excessive Courtroom, Jabi, Abuja.
They’re accused of making an attempt to defraud the Central Bank of Nigeria (CBN) of €100 million via a faux Certificates of Capital Importation.
This was disclosed in a press release posted on the EFCC’s official X account on Thursday.
What the EFCC is saying
The defendants, together with Reuben M. Jaja, Uzor Chidi Jerry, David Femi James, Imeobong Jumbo Udom, Adeola Edward, and Emeka Emmanuel Okorie, are going through a five-count amended cost protecting fraud, conspiracy, and false pretence.
In accordance with the EFCC, between August 12, 2020, and March 2021, the defendants allegedly conspired to mislead the CBN into issuing a Certificates of Capital Importation for €100 million, which was by no means deposited into a legitimate account.
“EFCC Arraigns BFI Group Company, Six others for Alleged €100m Fraud The Financial and Monetary Crimes Fee, EFCC, on Thursday, January 29, 2026 arraigned BFI Group Company, Reuben M. Jaja, Uzor Chidi Jerry, David Femi James, Imeobong Jumbo Udom, Adeola Edward and Emeka Emmanuel Okorie earlier than Justice M.S Idris of the Federal Capital Territory, FCT, Excessive Courtroom, Jabi, Abuja for alleged fraud to the tune of €100 million (One Hundred Million Euros),” the assertion learn partially.
When the fees had been learn in court docket, all of the defendants pleaded not responsible.
Courtroom proceedings and prosecution claims
Depend one of many amended cost alleges that the defendants meant to induce the Central Bank of Nigeria (CBN) to confer a profit on BFI Group Company by false pretence, opposite to Sections 8(a) and 1(3) of the Advance Price Fraud and Different Associated Offences Act.
- Depend two particularly claims that BFI Group Company and Reuben M. Jaja tried to acquire the €100 million Certificates of Capital Importation by falsely claiming the funds had been deposited in a non-existent CBN account.
- Prosecution counsel, Ekele Iheanacho, SAN, requested the court docket to learn the amended fees to the defendants and requested a trial date, alongside a date to answer their bail functions.
- Protection counsel, Chinedu Eze, utilized for bail orally, citing the Administration of Legal Justice Act (ACJA) and earlier judicial precedent. The prosecution objected, arguing that the cited instances had been inapplicable, because the defendants had already been formally charged and written bail functions had been already earlier than the court docket.
Justice M.S. Idris adjourned the matter till February 3, 2026, for a ruling on the bail functions and to set the trial schedule. The fourth defendant was remanded in EFCC custody, whereas the remaining defendants had been despatched to Kuje Correctional Centre.
What you need to know
The EFCC has continued its battle in opposition to monetary crimes throughout Nigeria, concentrating on corruption, contract fraud, and illicit monetary transactions.
These instances show the EFCC’s ongoing efforts to detect, prosecute, and recuperate stolen or misappropriated funds, reinforcing the Fee’s mandate to guard Nigeria’s monetary system and guarantee accountability.
